Wipro Infrastructure Engineering likely to acquire majority stake in French aerospace player Lauak Group
Wipro Infrastructure Engineering (WIN), engineering and manufacturing solutions arm of Wipro Ltd. and the Charritton Family, founders and current shareholders of Lauak Group, on Wednesday entered into an exclusive negotiation at the Paris Air Show for a majority stake acquisition in the company. However, financial details are not yet known.
According to a communique from WIN, details of the proposed transaction were submitted to the relevant employee representative bodies for consultation, and all necessary approvals have now been received. The transaction is expected to close in the coming months, subject to customary closing conditions.
Lauak Group is a 50-year-old, family-owned, and renowned French aerospace manufacturer, serving as a tier-1 supplier to major global aerospace companies. The proposed acquisition would reinforce Wipro's commitment to expanding its footprint in the European aerospace sector and enhancing its global capabilities to support key industry players, it said.
Wipro further said, the Charritton family, shareholders of the LAUAK Group, have been engaged for several months in a strategic review of how best to secure the company's long-term future and development. Faced with changes in the aerospace sector and the emergence of new global players, this evolution of the group's shareholding structure with Wipro would be part of a broader industrial consolidation strategy.
Pratik Kumar, CEO, Wipro Infrastructure Engineering and MD, Wipro Enterprises said, 'This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak's rich legacy in Aerospace and specialized expertise align with our long-term vision of building a fully integrated, global aerospace solutions platform.''
WIE is a diversified business, delivering deep expertise across Hydraulics, Industrial Automation, Aerospace, Water Treatment, and Additive Manufacturing. The Lauak Group is a French supplier to aircraft manufacturers.
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